111 days ago
3 min read

111 days ago

Cryptic ball: just hope.

Oh, yes, we're finally getting that pump I've been talking about since Monday, with yesterday's alt pumps leading the way for bitcoin and ether. Now it's time to understand where this move can lead us, always one step at a time.

  • Firstly, remember patience pays off in trading. As anticipated in the last newsletter, NEAR did come back to $11.9 and jumped an extra 5% from there. AXS is leading the day, with a +15% pump, although the average coin just moved in tandem with BTC and ETH, appreciating roughly 2.5%.
  • Secondly, bitcoin finally conquered $43k in the past hour, jumping on significant volume. The original cryptoasset is now approaching another key area of resistance, between $44.5k and $45.5k - as you can see below, this was where all advances of 2022 were mercilessly crushed back in February.
  • The silver lining is that BTC is above the 100-day moving average for the first time since December 3rd! This is excellent news, as trend followers assign plenty of importance to this simple, yet effective indicator. However, recovering the 200-day MA, currently at $48.5k, would mark the real breakthrough.

In any case, if you want spectacular returns you can't wait for the trend to be up and running to finally get in, right? Although caution is necessary, and patience for the right entry is always of the essence, remember that it would take a lot to make 2022 worse than it currently is, and most of the bad stuff is priced in. Or so I hope!

Chart art: just 111 days.

Bitcoin lost its 100-day moving average 111 days ago. Now let's hope it doesn't lose it again, as bears will surely try hard to defend the resistance highlighted in the white box above.

Three things: just "the" merge.

Tweet tip: just spring.

Remember the DeFi summer of 2020? Let's just hope it isn't last year's summer after!

Meme moment: just simple.

Best meme ever. Credit goes to the great CryptoCred.

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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of the guidance in the report will lead to any particular outcome or result.